The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.Learn More
Euromonitor International is pleased to announce the 2013 edition of Consumer Electronics is now available on Passport, the company’s premier market research database.
With continued economic uncertainty plaguing Western Europe and the US, the New Frontier and BRIC markets will be the main drivers of growth. Globally, consumer electronics is expected to achieve 3% volume growth in 2013, with CAGRs of 5% in volume terms and 7% in value terms anticipated over the forecast period.
In emerging markets, sales of electronic products are mainly generated in urban areas. Consumers living in rural areas could be working in the cities and buying electronic products like LCD televisions to take home. Similarly, rural consumers could be traveling to the cities to make purchases, lured by the greater discounts generated by the competition between electronics and
appliance specialist retailers and their wider selections. The new 2013 edition includes for the first time the rural/urban split in sales of electronic products in selected key markets.
Product-wise, smartphones and tablets are expected to continue their phenomenal growth while old favourites like LCD televisions and laptops will remain very much in demand. Specifically in tablets, manufacturers have finally found the right balance between cost and performance, with global sales of tablets expected to exceed 200 million units in 2014, rather than 2016 as per earlier forecasts.
Established camera manufacturers like Canon Inc are benefiting from the cannibalisation of digital cameras due to the popularity of smartphones. Consumers are eschewing low-cost, entry-level cameras for DSLRs and compact system (mirrorless) cameras. While manufacturers are losing out in terms of volume sales, financially they are benefiting from higher average unit price.
The new research also tells us that:
Companies are choosing desktops for their business rather than